Internal Audit Officer

Job Profile:

The Internal Audit Officer supports the Chief Auditor in providing independent, objective, and insightful risk-based assurance and advice in order to create, protect and sustain the value of the OPEC Fund. These activities are performed in alignment with the OPEC Fund’s institutional strategy and regulatory framework , and in accordance with the mandatory elements of the Institute of Internal Auditors' (IIA) International Professional Practices Framework. 

The role contributes to (i) the planning, execution, reporting and delivery of assurance and advisory engagements, (ii) annual risk assessment and work program development, and (iii) key initiatives within Internal Audit Unit.

Duties and Responsibilities:

Assurance and Advisory Services 

• Works on multiple engagements, often concurrently, in the delivery of risk-based assurance and advisory engagements across diverse business areas, including development operations, finance, corporate processes, and information technology
• Conducts audit planning and fieldwork, delivering high-quality assurance and advisory reports aligned with IAU’s professional practice and quality standards
  • Develops risk-based audit plans, conducts interviews, performs process walkthroughs, and analyzes relevant data and information
  • Applies data analytics, where appropriate to enhance audit effectiveness
  • Identifies opportunities to strengthen governance, risk management and control processes
  • Drafts clear findings and actionable recommendations, and monitors implementation of management responses
  • Maintains high quality working papers and audit reports that are thorough, accurate, and timely
• Monitors, follows-up, and reports on the status of management action plans to address audit issues. Ensures that management actions have been effectively implemented or that management has formally accepted the associated risks of non-implementation

Stakeholder management and engagement

• Supports the Chief Auditor in strengthening relationships with internal clients and teams and in collaborating with other internal risk and oversight units to identify opportunities for coordinated assurance
• Contributes to the IAU’s continuous improvement efforts and adoption of best practice
• Shares expertise and participates in inter-departmental task forces or working groups, as assigned
• Supports the Chief Auditor in fostering and sustaining partnerships with assurance functions of other development institutions, as well as humanitarian and aid organizations, as relevant

Reporting and analysis

• Supports the Chief Auditor in conducting comprehensive risk assessments across the OPEC Fund’s audit and risk universe and in developing the annual work program
• Supports the preparation of regular reports for Senior Management and the and Audit and Risk Committee of the Governing Board

Carries out other tasks assigned by the Chief Auditor, that are related to the job function.

Qualifications and Experience:

• Master’s degree in Business Administration, Finance, Controlling, Accounting, Law or a (closely) related field. A first-level university degree combined with substantial qualifying experience and relevant professional certification may be accepted in lieu of the advanced degree.
• Minimum of seven (7) years of relevant professional experience, including at least three (3) years in an international or multicultural environment, preferably within multilateral development banks (MDBs), international financial institutions (IFIs), or similar organizations. 
• Relevant professional certification and/or license such as Certified Public Accountant (CPA), Certified Internal Auditor (CIA), Certified Fraud Examiner (CFE), Certified Information Systems Auditor (CISA), is required
• Other related professional certifications and/or licenses, such as Certified Information Security Manager (CISM) or Chartered Financial Analyst (CFA), are desirable
• Professional audit experience with one of the Big Four accounting and auditing firms is considered an added advantage
• Working knowledge of audit management systems (e.g., TeamMate) and data analytics software is considered an added advantage
• Fluent in English. Good working knowledge of Arabic, French or Spanish is an added advantage.

Competencies:

• Subject Matter Knowledge - The in-depth understanding and expertise in specific fields relevant to the OPEC Fund's operations and the individual's role.
• Collaboration and Teamwork - The ability to effectively work with colleagues, stakeholders and partners to achieve shared goals.
• Effective Planning and Follow Up - The ability to set clear goals and priorities; skillfully organize tasks for efficiency; consistently follow through on commitments and plans. 
• Problem Solving Ability - The ability to identify issues adeptly, delve into root causes, and devise pragmatic solutions; demonstrate ingenuity and resourcefulness in overcoming challenges. 
• Sense of Responsibility - The ability to demonstrate ownership and accountability in tasks and outcomes; uphold reliability and commitment to fulfilling responsibilities.